Level 3 Completes Acquisition of tw telecom

-- Combined Enterprise Value of $27 Billion Creates a Stronger Competitor to Deliver Significant Customer Benefits

BROOMFIELD, Colorado, Oct. 31, 2014 /PRNewswire/ -- Level 3 Communications, Inc. (NYSE: LVLT) announced it completed its acquisition of tw telecom. The transaction further positions the company as a global leader in the rapidly evolving business communications market.

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The combined company provides enterprise, government and carrier customers around the world with one of the most comprehensive product portfolios in the industry, supported by its global network and deep metro footprint across North America.

"Level 3 is helping customers migrate to the next wave of technology," said Jeff Storey, president and CEO of Level 3. "We know our customers' needs are changing, and by bringing together these two great, customer-focused companies, we are taking the next step in the evolution of Level 3 and bringing us closer to realizing our vision of being the trusted connection to the networked world.

"The combination of tw telecom's rich metro footprint with Level 3's global network, positions the company to provide local-to-global business solutions and deliver a world-class customer experience," Storey continued.

Powerful Competitor in the Enterprise Market

The combination of Level 3 and tw telecom:

• Enables a higher quality and more reliable on-net experience for customers doing business in North America or expanding into North America from regions such as Europe, Middle East and Africa (EMEA) and Latin America, including access to triple the number of on-net buildings.
• Provides access to the combined product portfolio, targeted at helping companies manage their growth in an efficient and secure manner. 
• Addresses the ever-changing threat landscape — both companies built their networks with security and flexibility in mind.
• Boosts Level 3's enterprise revenue in North America from approximately 65 percent to 70 percent of the region's total revenue.
• Doubles the company's salesforce in North America to provide excellent customer service and reach.

Transaction Details